German Chancellor Merkel was met by protests in Portugal, where she met with Prime Minister Coelho. Merkel was met with mockery, as she painted a positive picture of the country's future.
Eurozone finance ministers have agreed Spain and Portugal are in violation of budget rules. Any potential penalities are likely to be soft in order to avoid an anti-EU backlash or hamper economic growth.
Europe's finance ministers have agreed to move towards unprecedented sanctions against Spain and Portugal for overshooting EU deficit limits. Both countries then immediately set out to convince the EU to reconsider.
France's Finance Minister Michel Sapin believes Portugal doesn't deserve EU penalties for fiscal overruns. This precedes a meeting of the bloc's finance ministers at which Lisbon and Madrid may see penalties imposed.
After Greece adopted a new set of reforms, eurozone finance ministers have closed in on a deal to unlock vital cash for Athens. Debt relief was discussed, setting the stage for a showdown between the IMF and Germany.
© 2016 Deutsche Welle |
Legal notice |
| Mobile version